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Cars are complicated. There are so many things we need to consider before buying one, like the model, year, mileage, and cars with resale value, ensuring a smart investment for the future.
The resale value of a car doesn’t always matter. However, if you’re financing a car, it’s a good number to consider. What happens if you need to sell the car back?
Well, if you do, you may want to avoid these 18 cars. As someone looking for a used car, I’ve researched this topic for months. To curate these 18 vehicles, I used sources like Business Insider, Motor1, The Manual, and Kelley Blue Book.
What do you think? Do you have experience with one of these cars? Let us know in the comments.
Nissan Leaf
A car you may need to look closely at before purchasing is the Nissan Leaf. This smooth vehicle has lost a lot of value over the years.
It’s a solid car with great reviews. So, how bad is this car’s resale value? Well, the 2018 Nissan Leaf first started at $30,885. Now, you can find this used vehicle at around $10,821.
Mitsubishi Mirage
I am a huge fan of the Mitsubishi Mirage. If I had the money and the space I’d buy one in a heartbeat. The biggest downside to this car though is the resale value. Don’t expect to get the same amount you paid.
According to Kelley Blue Book, the 2018 Mitsubishi Mirage started at $14,390 when new. Now, the car sells for a fraction of the price. You can find this vehicle for $6,436, or even lower. The lowest I saw this car was slightly under $5,000.
Volvo S90
So you like luxury vehicles? As stunning as these cars are, they often lose value quickly. This is the case with the Volvo S90.
To give you an example, the 2020 S90 T6 Momentum Sedan 4D was priced at a jaw-dropping $51,545. Now four years later, the car starts at $23,905. In other words, it lost more than half of its original value!
Porsche Panamera
Owning a Porsche Panamera sounds like a dream, but is it worth it? Well, it depends on a lot of things, including the resale value and how you’re paying for it. If you have the cash, go for it, but if you’re financing, consider another car.
Porsche Panameras lose a lot of value. The 2018 model first sold for $86,050. Now, a used 2018 Porsche Panamera starts at about $37,053.
BMW 7-Series
Another luxury car you may want to look away from if you’re financing is the BMW 7-Series. They are beautiful-looking cars, but can hurt your wallet if you’re looking to resell them.
For instance, the 2018 model started at $84,095 when it was first released. The same car used now sells for around a quarter of this price at $24,489.
Ford Edge
The Ford Edge is a comfortable crossover SUV that is both spacious and practical. It’s a favorite for many families but struggles in the resale value department.
Six years ago, the 2018 Ford Edge SE Sport Utility 4D started at $30,310. The used 2018 Ford Edge is a lot lower with a national average of $11,187. You won’t even get half of what you paid for this car.
GMC Canyon
Even pickup trucks lose value. With the GMC Canyon, the resale value depends on the year and specific model. For instance, the 2020 was first priced at $23,395. Four years later, the starting price dropped to $19,089.
You can see an even bigger price difference with the 2020 range-topping 2020 Canyon Extended Cab All Terrain Pickup 2D, which went from $38,045 to $29,781.
Porsche Cayenne
The Porsche Cayenne is a luxury SUV like no other. Like other luxury vehicles, this one loses value quickly.
To give you an example, the 2018 Porsche Cayenne began at $62,540. The same vehicle now sells for a measly $22,935. It’s worse for the GTS Sport Utility 4D which started at $100,540. The car has lost nearly 70% of its value and sells for $35,967.
Jaguar XF
The Jaguar XF is another stunning and sleek luxury car that loses value almost immediately when you buy it. When the 2018 edition was first released, it was priced at about $49,540.
Can you guess what it costs now? A used 2018 Jaguar XF sells for around $13,284. The car lost well over half of its value in just six years.
Mercedes EQS
Mercedes EQS cars are very new, but just because a vehicle is new doesn’t mean it’s valuable. This pricey luxury EV loses value almost immediately.
When it was first released, the 2022 Mercedes EQS went for a jaw-dropping $102,310. That’s the price of a small condo in some areas. When researching for used 2020 Mercedes EQS vehicles, I saw prices ranging from $38,000 to $65,000.
Toyota Mirai
Toyota is one of my favorite car brands, but I couldn’t care less for the Toyota Mirai. The price of this vehicle dropped significantly in only six years.
For instance, when brand new, the 2018 edition started at $59,275. Can you guess its price now? According to Kelley Blue Book, the average used 2018 Toyota Mirai sells for $10,419. The reviews for this vehicle also aren’t the best. The consumer rating on Kelley Blue Book is a measly 2.3.
Chevrolet Bolt
It stuns me just how fast a car can lose value. The Chevrolet Bolt EV is a smooth-driving vehicle with an EV range of 238 miles. While a decent car, it’s no longer worth what it first cost.
The 2018 Chevrolet Bolt started at $37,495 when first released. The more expensive version, the EV Premier Hatchback 4D, was $41,780. Now, both versions sell for under $15,000.
Audi A8
I can’t imagine owning an Audi a8 or even driving one. This sleek luxury sedan is a favorite for many but has depreciated quickly. In just the last three years, the 2018 model lost about $16,206 of value.
It cost nearly $83,475 when first released in 2018, and now has a resale value of about $25,000.
Land Rover Range Rover
The Land Rover Range Rover, also just known as the Range Rover, is a reliable luxury SUV. The inside is spacious, providing car owners with three rows of comfortable seats.
Like other vehicles I’ve listed, this one loses a lot of value. When brand new, the 2018 Land Rover Range Rover started at $90,125. Six years later, you can find these vehicles selling for $32,609. It’s even worse for the more expensive editions. For instance, the SVAutobiography LWB Sport Utility 4D used to cost $208,895. Now it goes for $57,875.
Lincoln Navigator
Are you tired of hearing about luxury cars that lose value quickly? Well, the Lincoln Navigator is another one.
To give you an example, the 2018 Lincoln Navigator used to start at $76,505. After six years on the market, the average used 2018 Lincoln Navigator sells for less than half of the starting price — $29,220.
Ford Expedition
When buying a used car, I try to only buy one that is ten years or older. Six years is a sweet spot.
Six years ago, the 2018 Ford Expedition took the world by storm. The 2018 Ford Expedition XL Sport Utility 4D started at $52,390. Now, you can find the car selling for an average of $20,169.
BMW X5
The BMW X5 is a great family car for a decent price. However, like the others I’ve mentioned, the car loses its resale value quickly. Still, consumers love it and give it a 4.3 on Kelley Blue Book.
So, how much does this vehicle lose in value? Well, the 2018 BMW X5 began at $59,295. Now, six years later, the same vehicle goes for about $20,000. In other words, it lost about half of its original value.
Genesis G90
Last but not least is another luxury vehicle – the Genesis G90. This spacious and stunning vehicle isn’t as expensive as other luxury brands.
When the 2018 model was first released, the MSRP started at $69,345. Now, the same model with six years of use resells for an average of $21,668.
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